Pzena Investment Management LLC Makes New $273.12 Million Investment in Advance Auto Parts, Inc. $AAP

Pzena Investment Management LLC bought a new stake in shares of Advance Auto Parts, Inc. (NYSE:AAP) in the 2nd quarter, Holdings Channel reports. The fund bought 4,389,501 shares of the company’s stock, valued at approximately $273,115,000. Pzena Investment Management LLC owned about 0.07% of Advance Auto Parts as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Advance Auto Parts in the third quarter worth about $31,000. State of Wyoming acquired a new stake in Advance Auto Parts during the 2nd quarter valued at approximately $34,000. AlphaCore Capital LLC increased its holdings in Advance Auto Parts by 53.6% during the 4th quarter. AlphaCore Capital LLC now owns 883 shares of the company’s stock worth $35,000 after purchasing an additional 308 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in Advance Auto Parts by 184.5% during the 4th quarter. Hantz Financial Services Inc. now owns 919 shares of the company’s stock worth $36,000 after purchasing an additional 596 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Advance Auto Parts by 290.3% during the 2nd quarter. Smartleaf Asset Management LLC now owns 925 shares of the company’s stock worth $43,000 after purchasing an additional 688 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Advance Auto Parts to a “buy” rating in a research note on Friday, May 22nd. Mizuho lifted their price target on shares of Advance Auto Parts from $54.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Weiss Ratings upgraded shares of Advance Auto Parts from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. UBS Group upped their price target on shares of Advance Auto Parts from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, May 22nd. Finally, Truist Financial increased their price objective on shares of Advance Auto Parts from $55.00 to $62.00 and gave the company a “hold” rating in a research note on Thursday, May 21st. Two equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $58.91.

Advance Auto Parts Trading Up 0.5%

Shares of NYSE AAP opened at $56.85 on Tuesday. The stock’s 50 day moving average price is $57.42 and its two-hundred day moving average price is $55.36. Advance Auto Parts, Inc. has a 52-week low of $37.89 and a 52-week high of $65.21. The stock has a market capitalization of $3.43 billion, a P/E ratio of 78.96, a PEG ratio of 0.93 and a beta of 1.03. The company has a quick ratio of 0.85, a current ratio of 1.78 and a debt-to-equity ratio of 1.54.

Advance Auto Parts (NYSE:AAP) last released its earnings results on Thursday, May 21st. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.38. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.05 billion. Advance Auto Parts had a return on equity of 8.95% and a net margin of 0.51%.Advance Auto Parts’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. Advance Auto Parts has set its FY 2026 guidance at 2.400-3.100 EPS. On average, analysts anticipate that Advance Auto Parts, Inc. will post 2.94 earnings per share for the current fiscal year.

Advance Auto Parts Company Profile

Advance Auto Parts, Inc (NYSE: AAP) is a leading distributor of automotive aftermarket parts, accessories, and maintenance items. The company operates a network of stores and distribution centers across North America, serving both do-it-yourself (DIY) customers and professional service providers. Advance Auto Parts focuses on offering a comprehensive selection of replacement parts, batteries, engine components, and performance products for cars and light trucks.

The company’s product portfolio includes engine oils and lubricants, cooling system components, brake and suspension parts, filters, belts, hoses, and diagnostic tools.